FxWirePro: USD/CHF Shooting star and Bearish Divergence
Candlestick pattern – Shooting Star USD/CHF has shown a dip once again after hitting a high of 0.98369. The pair has made a double top and minor weakness till 0.9705 is likely. Intraday trend of the pair is slightly weak…
USD/CHF has shown a dip once again after hitting a high of 0.98369. The pair has made a double top and minor weakness till 0.9705 is likely. Intraday trend of the pair is slightly weak as long as resistance 0.9835 holds. It is currently trading around 0.97913.
On the lower side, near term support is around 0.9780 and any break below will drag the pair to next level till 0.9750/0.9705. Short term bearish continuation only below 0.9705. Overall long term support is around 0.9420.
The near term resistance is around 0.9835 and any violation above will take the pair to next level till 0.9900.
It is good to sell on rallies around 0.9797-0.9800 with SL around 0.9835 for the TP of 0.9705/0.9660.
